Can be used in place of "shit"; usually is pronounced this way by someone who is old, and of The Angry Geriatric Kind--the Geriatric Kind that, perhaps, has regained mobility thanks to The Scooter Store.

chit1
CHit/Submit
noun
1.
a short official note, memorandum, or voucher, typically recording a sum owed.
2.
The sound a single squirrel makes in warning to other squirrels. (A group of squirrel chatting to each other is called chatter, or chatting).

I heard the squirrel chit in alarm at the crazy ass lady barking at him. They all began to chatter.